PROBATE COURT OF RICHLAND COUNTY, OHIO by hijuney7

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									                                                                                                        Perfect Form 5.3

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                  PROBATE COURT OF RICHLAND COUNTY, OHIO
                                        PHILIP ALAN B. MAYER, JUDGE
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ESTATE OF BottomE                                                                             , DECEASED

CASE NO. Case Number 1E


                              GUIDELINES FOR FIDUCIARIES

         All fiduciaries must account to the Probate Court for all assets and funds managed by them during
the term of their appointment. To do this accurately, certain procedures must be followed:

           1. Beginning Assets. An accurate record of the beginning assets of the estate must be made,
which should include the description and value of the assets. This schedule of beginning assets will be the
inventory for the estate. Where required, values will be established by appraisers appointed by the Probate
Court. Assets of the estate consist of both probate assets, which are controlled by the terms of the Will,
and non-probate assets, which are subject to the contracts and agreements creating them. Examples of
non-probate assets are life insurance, annuities, TOD accounts, POD accounts, JTWROS accounts, retained
life estates, and revocable trust assets. While these non-probate assets are not accounted for to the Probate
Court, they nonetheless are generally a part of an estate for estate tax purposes and Medicaid asset recovery
purposes.

         2. Checking Account. A checking account for the estate should be opened. This account will
be the holding account for all cash receipts and all cash disbursements, including transfers of funds. There
shall be no intermingling of personal funds of the fiduciary with funds of the estate, and all disbursements
from estate funds shall be for estate purposes only; and from the estate checking account.

          3. Receipts. (Income) An accurate record of all cash receipts for the estate must be kept. The
court will require the date of the receipt, the source of the receipt, and the exact amount of the receipt. All
receipts must be deposited into the estate checking account.

          4. Disbursements. (Expenses or Distributions) An accurate record of all disbursements for the
estate must be kept. The court will require the date of the disbursement, the check number, to whom the
disbursement was made, for what reason, and the amount. All disbursements must_be made by check from
the estate checking account. All cancelled checks must be made available for filing with the Probate Court.

           5.    Transfers and Sales of Investments.        Any transfers of assets (cashing in of a bank
certificate or sale of investments) shall be done through the estate checking account. For example, the
proceeds of a cashed-in certificate shall be deposited into the estate checking account, and a check then
written to re-invest the funds. The duty of the fiduciary is to protect and preserve the assets, so investment
of assets should be limited and done only after being approved by the attorney.

          6.    Income Taxes and Creditors' Claims.          All income tax returns must be filed by the
fiduciary for the estate. Creditors have 12 months from the date of death of the deceased to file their
claims. As fiduciary , you are personally responsible for the payment of these claims if you distribute assets
prematurely.

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                                                                                                        Perfect Form 5.3

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          7. Estate Taxes. There may be estate taxes to be paid by the estate to the federal government
or the State of Ohio. These returns must be filed, paid, and approved by the appropriate tax authority prior
to closing the estate proceedings.

          8.   Medical Bills. These have become a major concern in estate proceedings and must be
processed by the fiduciary. This can be very time consuming and may cause the estate proceedings to
continue for a prolonged period of time. Your patience and cooperation in processing these claims is very
important.

         9. Attorney Fees. Legal fees for estate proceedings will be based upon guidelines established
by the Probate Court. Those guidelines are as follows:

             Probate Assets:                         5% of the 1st $30,000
                                                     4% of the next $100,000
                                                     3 % of the next $300, 000
                                                     2 1/2% of the next $500,000
                                                     2% of the balance

             Real Estate Not Sold:                   2% of the 1st $50,000
                                                     1% of the balance

             Non-Probate Assets:                     2% of the 1st $100,000
                                                     1% of the balance

          10. Fiduciary Fees. Fiduciary fees for your services in the estate proceeding will be based
upon compensation provisions provided by statute under Ohio Revised Code 2113.35. Those provisions are
as follows:

             Probate Assets:                         4% of the 1st $100,000
                                                     3% of the next $300, 000
                                                     2% of the balance

             Real Estate Not Sold:                   1 % of the Inventory Value

             Non-Probate Assets:                     % of the estate tax value
                                                     (Except joint & survivorship property)

          I hereby acknowledge the receipt of a copy of this document and a copy of the Fiduciary's
Acceptance filed with the Probate Court, and by signing this document, state that I accept the responsibilities
and provisions described herein.




Date                                                 Fiduciary
                                                     Fid Full NameE              Co Fid Full NameE
Guidelilnes For Fiduciaries - Side Two - BottomE
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